Tether-Backed Oobit Bypasses SWIFT With Instant Bank Transfers

Edgen Crypto

·Feb 24 2026, 18:53

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Key Takeaways

Tether-backed payments platform Oobit has launched a service enabling users to send stablecoins from self-custody wallets directly to bank accounts with near-instant settlement. This new infrastructure bypasses the traditional SWIFT network, aiming to significantly reduce the time and cost associated with cross-border payments.

Oobit launched a service on February 24, 2026, for near-instant stablecoin transfers from crypto wallets to bank accounts.
The platform bypasses the SWIFT system, leveraging local networks like SEPA in Europe and ACH in the United States.
The service initially supports USD, EUR, MXN, and PHP, targeting the global remittance and B2B payment markets.

Oobit Enables Instant Global Payments, Sidestepping SWIFT

On February 24, 2026, the Tether-backed global payments platform Oobit activated a new service allowing users to transfer stablecoins from self-custody wallets directly into traditional bank accounts worldwide. The system provides near-instant settlement, eliminating the multi-day delays and intermediary fees common with the legacy SWIFT network. This marks a significant step in bridging decentralized crypto assets with the global banking system without conventional processing. The infrastructure is powered by the Stablecoin API developed by Distributed Technologies Research.

New Service Targets Cross-Border Remittances With Fiat Support

By integrating with local payment rails like Europe's SEPA, the United States' ACH, and Mexico's SPEI, Oobit facilitates direct settlement within seconds. The service initially supports major fiat currencies including the US Dollar (USD), Euro (EUR), Mexican Peso (MXN), and Philippine Peso (PHP), with plans for further market expansion. This strategic move directly challenges traditional remittance and cross-border payment providers by offering a faster, more efficient alternative. The ability to move funds from self-custody wallets to bank accounts seamlessly is poised to increase stablecoin utility and adoption for everyday financial transactions.